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Give a careful explanation of a nash equilibrium

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Reference no: EM13880452

1. Give a careful explanation of a Nash equilibrium. How is it different from a dominant-strategy equilibrium?

2. Is it ever an advantage to move first in a zero-sum game? When is it an advantage to have the first move in a non-zero-sum game? Provide an example in which it is advantageous to have the second move.

Reference no: EM13880452

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